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Many of these foreign owned companies pay no
us income taxes, their profits are moved out of USA. Losses are also sent over to the companies that are based here but owned by parent companies in camen islands, tax sheltered countries. I don't believe that there are many, if any, cars that are made in ____ anymore. I think they are all international. Back to the issue, as to the foreign owned companies in the USA, while some of their money is being fed back to the locals, the majority of the money goes overseas to their bank accounts or other foreign purchases. Unfortunately, there is no easy solution that won't hurt someone here in the US. Tariffs would raise our cost of living something terrible, blocking imports will cause a higher demand in relationship to supply causing another price increase. Instead of profit sharing, union workers want higher wages. There is no easy solution. What helps one group will certainly hurt another. |
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